Chinese central bank has used open-market operations to inject the largest amount of liquidity to the banking system since January so far this week, in order to meet cash demand during the tax payment season.
The People’s Bank of China (PBOC) net injected 560 billion yuan ($79 billion) through reverse repurchase agreements in the four days through Thursday, exceeding the amount it granted during tax season last year.
A gauge of overnight interbank . . .
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